After Approximately 20 Years, I Decided to Close My Latitude Mastercard
I have been a Latitude Mastercard customer for approximately 20 years. During that time, I have always maintained my account responsibly and have had very little reason to complain.
Recently, however, I received a text message from Latitude stating: “You have missed the August payment.”
This surprised me because my outstanding balance was only around $80 on a $15,000 credit limit. When I contacted Latitude, I was advised that the payment was due on the 11th of the month. This did not accord with the payment cycle I had understood and followed over many years.
A $45 late fee had also been applied. I raised the matter with Latitude and, to their credit, the representative refunded the fee. I appreciated that response.
During the same conversation, I arranged a $200 once-off payment from my CBA account and established a $40 monthly direct debit. The $200 payment subsequently appeared as a credit on my Latitude account, together with the $45 fee adjustment.
After reflecting on the situation, however, I decided to look at the bigger picture.
I already have several other credit cards, accumulated rewards/points and substantial available credit across my other facilities. I therefore have no real need for another $15,000 credit limit. I also find Latitude's payment arrangements significantly less convenient than some of my other cards.
Consequently, after approximately two decades as a customer, I have decided to use the remaining credit on the account and then close the card.
I want to be fair to Latitude: the $45 fee was refunded when I queried it, and the matter was handled courteously. My decision to leave is therefore not based on the $45 itself. It is the result of reassessing whether the card still provides me with enough value and convenience to justify keeping it.
After 20 years, I have simply decided that the time has come to move on.